Egypt to Boost LNG Import Capacity with New 10-Year Höegh Agreement

The Egyptian Natural Gas Holding Company (EGAS) has signed a 10-year agreement with global offshore energy infrastructure firm Höegh LNG to lease a new floating storage and regasification unit (FSRU), Bloomberg reported.

As part of the deal, Höegh’s vessel Höegh Galleon will be stationed at the SUMED port in Ain Sokhna in the fourth quarter of 2026. Before deployment, the ship—originally an LNG carrier with a daily capacity of one billion cubic feet—will be converted into a regasification unit.

The new FSRU will replace the currently operating Höegh Galleon, Egypt’s only active LNG import terminal, which was leased under a separate agreement last year.

Meanwhile, Egypt is holding talks with Qatar to establish long-term natural gas supply agreements. During a meeting between Petroleum Minister Karim Badawi and Qatari Energy Minister Saad Sherida Al Kaabi, both sides discussed the potential for deeper integration in energy infrastructure and LNG operations, including trading, liquefaction, and regasification.